The fitness app market is on the cusp of massive growth, according to new research. According to business analysts, the global fitness app market will more than double by 2026. The protracted pandemic has driven people to look for remote fitness solutions such as home fitness equipment or fitness apps, which is reflected in the high demand for fitness and workout apps.
Profile of the global fitness app market
Fitness apps come in a wide variety of forms and uses. From those that track your running progress to online yoga classes, ab workouts and meditation. Over the past few years, platforms have appeared for almost all sports and specializations. A growing number of people are using home fitness apps to supplement or even replace traditional sports workouts.
According to a new report published by Research and Markets, the global fitness app market was valued at over $6 billion in 2021. That’s a pretty impressive number considering the first iPhone fitness apps were only released in 2008 (and that’s really just the beginning).
Market Growth Forecasts
Compounding its meteoric growth to date, the global fitness app market is expected to grow at a compound annual growth rate (CAGR) of 17.3% over the next five years, according to analysts.
By the end of 2026, the market value will be more than $13 billion, which is 122% more than at present.
Breaking this market apart, the United States is expected to be the largest fitness app market until 2026, with men expected to make up a larger proportion of buyers than women. In terms of types and features, apps focused on exercise and weight loss, as well as activity tracking, are predicted to dominate.
Reasons for the growth of the market
What exactly is driving this growth? Undoubtedly, the covid pandemic plays a big role. At the beginning of the pandemic, home fitness companies saw a surge in sales. For example, US company Peloton’s sales rose 250% in the first quarter of 2020 as gyms closed across the US. The reopening of the economy has dampened much of the interest, but the subsequent waves of the virus – and the corresponding shutdowns – continue to drive interest in the distance fitness sector.
All this is exacerbated by the already rapidly growing attention of the world community to fitness and a healthy lifestyle. As the report states, “A growing focus on maintaining a healthy lifestyle, increased use of smartphones, tablets and wearable devices, and growing market awareness of diet-related diseases are driving growth.”
Major players in the fitness app market
The global fitness app market is dominated by major companies including Germany’s Adidas, US companies Aaptiv, Azumio, Fitbit, Fitnesskeeper, Google, Nike, Noom and Under Armor, South Korea’s Samsung Electronics and Beijing’s Lenovo.
Companies large and small are embracing this space and offering ever more innovative products. Meta (formerly Facebook) is reportedly planning to buy popular VR fitness app Supernatural. Meanwhile, creative startups like Movano, which sells fitness rings looking to optimize the technology behind popular fitness technologies, are expanding and getting funding like never before.